Compliance News: California Department of Financial Protection and Innovation

Sep 29, 2020

Topics: In the News, Compliance News Alert

On September 25, 2020 Gov. Gavin Newsom (D) approved CA A.B. 1864 (2020), which renames and repurposes the California Department of Business Oversight into the new California Department of Financial Protection and Innovation (see http://leginfo.legislature.ca.gov/faces/billHistoryClient.xhtml?bill_id=201920200AB1864). This change will take effect on January 1, 2021.

We are currently reviewing this change to determine any impact, and evaluating any modifications, to our document library and/or systems. Any modifications we make as a result will be announced on our website.

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The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.